Development Watch – Week #1 September ’22

Development News

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50 Acres Sports Complex planned in Dwarka

Omaxe Group has bagged a project from Delhi Development Authority (DDA) to develop a sports complex-cum-retail project in Dwarka. Cost of the project is estimated to be around Rs. 2,1000 Crores. The 50 Acres project will be built under the “Design Build Finance and Operate” (DBFO) model. The proposed complex would have both outdoor and indoor sports facilities like tennis, badminton, squash, and olympic size swimming pool. A large world class cricket-football stadium is also being planned. In addition, there will be a membership-based sports club and 3.5 lakh sq ft retail space in commercial area. Omaxe Group raised Rs. 440 Crores from Vrde Partners in the month of April.

Concerted efforts needed to achieve 500 GW RE target

While in Kerala for the AREAS event, Union Minister of State for New and Renewable Energy, Mr. Bhagwanth Khuba, appreciated the role played by states and their joint efforts with the Centre. This has resulted in the country achieving the goal of 175 GW of clean energy by 2022 itself. He stated that concerted efforts from all sectors and states are vital for India to achieve the target of 500 Giga Watts renewable energy capacity by 2030.

First-of-its-kind factory with Cobots and Industry 5.0 standards

ABB India’s “Smart Power portfolio” has expanded and upgraded its capacity with cobots at the Smart Power Factory in Nelamangla, Bengaluru. The smart facility harnesses advanced collaborative robotics technology (cobot) for better human-machine interface. It also makes use of AI and advanced digitalization. This would help meet the demand growth for Smart Power solutions and energy management technologies with one of the first Industry 5.0 production processes. This facility manufactures, tests and supplies ABB Smart Power’s complete range of low voltage power equipment and energy management technologies. This ensures increased reliability, enhanced productivity of 40%, energy savings and energy efficiency of 15%. Through their own digital transformation at the facility, ABB aims to demonstrate the benefits of adopting smart solutions directly to customers.

Fully underground Mumbai Metro Line 3 in trial phase

Mumbai Metro Rail Corporation (MMRCL) conducted trial run of the first trainset on Line 3. The train set has been delivered by Alstom for the Colaba-Bandra-SEEPZ metro line 3 (Aqua Line). It is the city’s first metro project that can run driverless and is fully underground. The trains have 75% motorization, which makes the operations highly efficient.

Tender issued for construction of 4-lane road in Madhya Pradesh

National Highway Authority of India (NHAI) has issued tender for construction of 4-lane road in Madhya Pradesh. It has invited bids for construction of the road from Barela to Manegaon. The scope of work includes construction of 4-lane from Barela to Manegaon section of NH-30, also known as Jabalpur Ring Road. The stretch falls under Bharatmala Pariyojana in MP and works are being carried out in EPC mode (Package 1). Estimated value of the project is Rs. 480.23 Crores. Target completion is a period of 24 months.

Financial bids invited for Shipping Corporation of India

The government may invite financial bids for SCI privatization in March quarter. The demerger of non-core and land assets of SCI is at an advanced stage. The process is expected to be over in about 3 months. After this, the financial bids will be invited from potential investors in Jan-March quarter 2023. As per the balance sheet of SCI, the value of non-core assets stood at 2,392 Crores. The Department of Investment and Public Asset Management (DIPAM) in December 2020 invited expressions of interest (EoI) for strategic disinvestment of entire stake of 63.75% in SCI, along with transfer of management. Out of budgeted Rs. 65,000 Crores in 2022-23 fiscal, Rs. 24,544 Crores has been mobilized through CPSE (Central Public Sector Enterprise) disinvestment.

Nagaland gets 2nd Railway Station after 100 Years

The state of Nagaland got its 2nd railway station after more than 100 years. The new facility has been commissioned at Shokhuvi. Earlier, Dimapur Railway station was inaugurated in 1903. Chief Minister Neiphiu Rio flagged off Donyi Polo Express from Shokhuvi Railway Station. The train ran daily between Guwahati in Assam and Naharlagun in Arunachal Pradesh. now the service has been extended till Shokhkuvi, which is a few kilometers from Dimapur. This will provide direct connectivity between Nagaland and Arunachal Pradesh. Northeast Frontier Railway (NFR) is working to connect all the capitals of NE states with railways in a time-bound manner.

World’s first Hydrogen-powered Train in Germany

Germany has launched the world’s first fleet of hydrogen-powered passenger trains in the state of Lower Saxony. 14 diesel trains will be replaced by hydrogen fuel cell drive, produced by French manufacturer Alstom. These trains would help save 1.6 million litres of diesel a year. The total cost of projects is around 92 million dollars. Each of these Coradia iLint trains would have a range of 999 km with speed touching 140 kmph. The routes in Lower Saxony will be operated by regional rail company LNVG, and will serve the towns of Cuxhaven, Bremerhaven, Bremervoerde and Buxtehude.

The zero emission Coradia iLint train emits low levels of noise, with exhaust being only steam and condensed water. The iLint was designed by Alstom teams in Salzgitter (Germany) and in Tarbes (France). Development of the train was funded by the German government as part of the National Innovation Program for Hydrogen and Fuel Cell Technology (NIP).

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